President Bola Tinubu has encouraged Nigerians to remain calm regarding the new tax system set to be implemented in 2026, promising that the policy will provide assistance to the impoverished, low-income individuals, and small enterprises.
On Tuesday, the president provided assurance during the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture of the late former governor of Oyo State, which took place at the University of Ibadan.
The event titled “Pathways to Electoral Credibility: Reforming Political Parties, Re-engineering Citizens, and Restoring Trust in Nigerian Democracy” was hosted by the Senator Abiola Ajimobi Foundation in partnership with the Institute of Peace and Strategic Studies at the University of Ibadan.
It drew friends, colleagues, family members, and associates of the late governor and was led by a former governor of Ogun State, Olusegun Osoba.
Ajimobi, who governed Oyo State between 2011 and 2019, died in June 2020, a year after leaving office.
Tinubu’s message was presented by the Federal Inland Revenue Service’s Executive Chairman, Zaccheus Adedeji, who praised the late governor for the changes he implemented during his term.
“We shared many ideals. He believed that a leader must take the people he governs to the height they ought to be, even if it involves making tough choices and decisions that may engender initial discomfort but would, in the long run, catapult the state to greater development,” the President said.
Tinubu mentioned recent economic reforms undertaken by his administration were necessary to revitalize the economy, adding that early indicators showed positive outcomes.
“As recent evidence has shown, the drastic economic measures our administration undertook were necessary to revitalize the economy. Investors have since reaffirmed their confidence as the fruits of our reforms become manifest through robust macroeconomic indicators.
“Our GDP is growing, inflation is tumbling, and improvements are being recorded in the fiscal deficit. Companies that were previously posting losses have returned to profitability, with improved capacity utilization and increased investment levels,” he said.
The president stated that Nigerians would begin to feel the impact of the reforms more strongly in the coming year, particularly through the new tax laws.
“The impact of these improvements will be felt more by Nigerians, particularly in the new year, with huge reliefs coming from the new tax laws, which exempt food, medication, education, agriculture, and shared transportation from burdensome taxes and free businesses from multiple taxation.
“I want to assure Nigerians that there should be no apprehension about the new tax laws, whose implementation will begin next year. The laws come with good news for the poor, low-income earners, and small businesses,” Tinubu added.
The president also commended the wife of the late governor, Ambassador-designate Florence Ajimobi, for sustaining the family’s legacy.
Tinubu concluded his speech by urging leaders and members of the All Progressives Congress in Oyo State to unite ahead of the 2027 elections.
“The best tribute and honor you can give to our departed statesman is to unite and strengthen the party to take over the reins of government in this state in 2027. This is achievable, and it must be achieved,” he said.
In his remarks, Oyo State Governor Seyi Makinde, represented by his deputy Bayo Lawal, praised the roundtable as an appropriate venue for honoring Ajimobi’s legacy while discussing vital challenges harming Nigeria’s democracy.
Makinde stated that the late governor made long-term contributions to state governance and left lessons that went beyond partisan politics.
He stated that regaining faith in democracy required sincerity, accountability, and inclusive governance, emphasizing that electoral credibility could only be gained if political parties practiced internal democracy and kept their pledges.
Prof. Ibrahim Gambari, former Chief of Staff to the late President Muhammadu Buhari, presented the lead paper, identifying political party reform as the most crucial factor for Nigeria’s democratic rebirth.
He identified voter apathy, democratic disillusionment, weak internal party democracy, institutional deficiencies, electoral violence, insecurity, and trust deficits as ongoing threats to election credibility.
Earlier, Florence Ajimobi, president of the Senator Abiola Ajimobi Foundation, praised Tinubu for his everlasting dedication to the late statesman and shared values of good administration and democratic engagement.
She stated that the President’s regular involvement and support for the yearly event demonstrated a real dedication to the ideas Ajimobi represented.
The ceremony was attended by dignitaries such as Speaker of the House of Representatives Tajudeen Abbas, who was the Special Guest of Honor; Imo State Governor Hope Uzodimma; traditional rulers; community leaders; and students.
